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FXProfit review – how scammers scam money, reviews from ex-clients, manipulation scheme
The project started as a dealing center in 2011. It was closed in 2016. Lovchila managedwork through as much as 15 years. Including during the golden times of wild Forex. There was no regulation then. Licenses were distributed to everyone. In 2015–2016, the rules were tightened. Many “kitchens” were blown away.
|Year of foundation
|Regulation and jurisdiction
- Low barrier to entry
- Lack of registration and license
- Non-market quotes
- Spread manipulation
Bank transfer, EGOLD / bank transfer, EGOLD, WebMoney, Yandex.Money
Up 2 pips
US stocks, metals, currency pairs
A dealing center without documents has been cheating Russians out of their money for 13 years, telling tales about legal work.
Information about FXProfit
The company has been operating since 2001, according to statements on the website. But, in 2016, fxprofit.ru ceased to function. Since during this period the conditions for brokerage organizations became significantly stricter, and auditors began to monitor the functioning of this kind of projects.
Regarding our hero, it is not clear who runs the service, and in general, where the registration took place. Not a word about what the office address is or whether there is one. The management, apparently, did not even bother much about placing some kind of offshore address. Accordingly, due to the lack of a registration address, regulation is also silent. The site, in turn, supports the Russian language, which means that the Central Bank of the Russian Federation had to provide a license for the legal provision of services. But the office doesn’t have it.
According to the information on the website, clients’ money is stored in accounts HELLENIC BANK. Perhaps this is true, but the office is not registered, which means a normal bank will not get involved with this kind of project.
On the official website of FXProfit there is a mention of the Integra Capital Ltd project. There is information about this type of company on the Internet. But they have nothing to do with the financial market. One of them works in the oil production segment, the second invests money, and the third is lawyers.
What does FXProfit offer to clients?
In addition to the classic terms of cooperation, the company offers its own trading software. We are talking about the automatic advisor FHProfit. Thisa paid trading robot, available in several versions and designed for use in the Forex market.
The Profit FX review showed that it has a universal algorithm that can be configured to work with all available currency pairs. This makes it suitable for various trading strategies. Specific limits and fees are not mentioned, but the developers warn of the possibility of losing your entire balance, which indicates a high level of risk. Information about the liquidity provider is not provided.
Regarding the design of the site, it looks very cheap and not relevant. It is clear that the company invested a minimum of money in it, because it understood that it would not function for long. Actually, that’s what happened, the site was closed. It is likely that the site will be launched again or the organization will rebrand. After all, all the prerequisites indicate that we are facing ordinary serial scammers.
Key points include:
- The lack of appropriate documents does not allow legal activities to be carried out. Accordingly, the terminal is completely under the control of the company;
- aboutpromises of high income without confirmation. The firm promises the use of innovative strategies and artificial intelligence to provide high returns, but does not provide actual evidence or specific data to support these claims;
- questionable reviews and marketing strategies. The site contains exaggerated statements about income and customer base, as well as negative user reviews, indicating serious problems in the return and implementation of stated promises;
- non-transparent investment plans. The terms of FXProfit investment plans are unclear, which creates opportunities for manipulation and deception of clients;
- three-level affiliate program. The presence of such a program may indicate a financial pyramid, especially if it is not mentioned in the client agreement.
User reviews point to limited payment options, lack of educational resources, and potential manipulation on the platform, which may indicate fraudulent practices. This is precisely why FXProfit can be classified as a typical scammer, a classic scammer.
Always remember to force a transaction cancellation. Not all victims of deception know about the launch of such a procedure as chargeback. Just for consultation write to us. Managers will tell you in detail the nuances of returning money.
FXProfit, marketed as an innovative Forex broker, has raised serious concerns among investors due to its lack of transparency and potentially fraudulent practices. The lack of clear licensing and legal registration information, coupled with negative customer reviews, raises questions about the legality and reliability of their services. The company promises the use of artificial intelligence and revolutionary trading strategies, but does not provide sufficient evidence or concrete data to support the effectiveness of its methods. Exaggerated claims about income and customer base, as well as opaque terms of investment plans, raise suspicions that FXProfit may be a typical example of a pyramid scheme or other type of fraudulent project.
Reviews about FXProfit
Please note that online comments confirm the real age of the company. That there is no long-term work experience behind you. The office has been providing services for a long time, simply moving from one domain to another. Please note that the company in most cases refuses to withdraw funds.
Clients are faced with dishonesty of the office and failure to consider withdrawal requests. Svetlana waited 2 weeks for the money to be withdrawn, but technical support stopped responding to messages.
Sergey also confirms the lack of return. And also the fact that the company does not implement even half of what it promises in practice. This of course leads to losses.
Maria doesn’t know what to do next or where to write. The broker just took the money and that’s it. Doesn’t allow you to pick up the balance. Overall, this is the most common complaint among traders.
Signs of divorce or conclusion according to FXProfit
We bring to your attention a list of signs of fraud that were discovered during the analysis of the project and information on the network:
- The specific launch date of FXProfit is not indicated on the website. However, it is mentioned that the company appeared in 2021;
- the service is supposedly registered in St. Vincent, but no additional details about the registration or the founders of the company are provided on the site;
- The website clearly states that the broker is not regulated. Lack of regulation is a significant red flag as it may indicate low levels of transparency and high risk for investors;
- the organization posts fake statistics on the portal that have nothing to do with reality. The organization allegedly has 39 thousand clients and annual revenue of $346.8 million. However, these data are not supported by evidence and may be exaggerated or even made up, which is a typical sign of fraudulent schemes.
It is logical that cooperation with FXProfit will not bring any income. Because the organization operates illegally. This means that the trading process is not controlled by anyone.
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